Ross Stores Stock Forecast
Red day on Thursday for Ross Stores stock after losing 0.347%
(Updated on Apr 25, 2024)
The Ross Stores stock price fell by -0.347% on the last day (Thursday, 25th Apr 2024) from $132.61 to $132.15. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.90% from a day low at $130.68 to a day high of $133.17. The price has fallen in 7 of the last 10 days and is down by -5.57% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -108 thousand shares and in total, 2 million shares were bought and sold for approximately $285.93 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $130.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.61% during the next 3 months and, with a 90% probability hold a price between $122.32 and $134.37 at the end of this 3-month period.
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ROST Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 0.266%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ross Stores stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $132.79 and $141.05. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ross Stores stock
Ross Stores finds support from accumulated volume at $131.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.48 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $123.74 (-6.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (ROST) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ross Stores to open at $132.00, and during the day (based on 14 day Average True Range), to move between $129.77 and $134.53, which gives a possible trading interval of +/-$2.38 (+/-1.80%) up or down from last closing price. If Ross Stores takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $131.80 (0.26%) than the resistance at $145.12 (9.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ross Stores stock A Buy?
Ross Stores holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.360 Hold/Accumulate Unchanged
Predicted Opening Price for Ross Stores of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $132.00 ( 0.115%) | $132.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.48 | 1.77 % | |
| R2 | 133.53 | 1.05 % | ||
| R1 | 132.95 | 0.604 % | ||
| Current price: | 132.15 | |||
| Support | S1 | 131.05 | -0.83 % | |
| S2 | 130.46 | -1.28 % | ||
| S3 | 129.51 | -2.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 148.12 | 12.08 % | |
| R2 | 146.02 | 10.50 % | ||
| R1 | 145.12 | 9.81 % | ||
| Current price | 132.15 | |||
| Support | S1 | 131.80 | -0.265% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ROST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 15, 2024 | Mar 29, 2024 | $0.368 | 0.250% |
| 2 | Mar 05, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.368 | 0.250% |
| 3 | Nov 15, 2023 | Dec 04, 2023 | Dec 29, 2023 | $0.335 | 0.242% |
| 4 | Aug 16, 2023 | Sep 01, 2023 | Sep 29, 2023 | $0.335 | 0.297% |
| 5 | May 17, 2023 | Jun 05, 2023 | Jun 30, 2023 | $0.335 | 0.299% |
FAQ
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